Why are so many of us eager to celebrate President’s Day?  The extended holiday weekend from work or school makes it one to look forward to.  I know that much.  Some find it to be another retail sales opportunity.

While I’m sure the great leaders of our country would be flattered to know they are responsible for consumers receiving an extra 10% off their purchase at Macy’s, there’s more depth to the holiday.

Sadly, the meaning of the day has dwindled from what was originally designated for a memorial of George Washington and Abraham Lincoln’s birthday.  These two presidents deeply molded and changed our nation.

If Washington had not served as the country’s leader, America would not exist, as we know it today.  His contributions to our nation are more applicable today than ever before.

Lincoln made history by signing the Emancipation Proclamation that freed slaves.

At some point throughout the day, between sleeping late, running errands, or driving back from the mini weekend vacation, may we never forget George Washington, Abraham Lincoln, or any other men and women who shaped this country.  We owe them our gratitude for the freedoms we enjoy today.

Hundreds of drivers are back to work at the Port of Seattle. Two weeks ago, approximately 400 short-haul owner-operators stopped picking up and delivering cargo at the Seattle port. The walkout was staged in protest against pay and working conditions.

Of particular aggravation was the condition of the chassis on trailers they were pulling for freight companies, as well as overweight loads. Many drivers were upset about the unfair fines they would have to pay for equipment they don’t own.  Typically, the container belongs to the shipper, the chassis that it sits on is owned by a trailer company and the drivers are the owners and operators of the truck.

Ships may not have been diverted from the port due to the situation, but there were delayed deliveries and notice was taken as evidenced by many firms agreeing to increase pay by four dollars a trip ($44 up from $40).

There is also a report by the Seattle Times that drivers may be compensated for being stuck in loading and unloading lines for more than an hour and even possibly for some deadheading trips.

The strike gained fuel when one of the drivers for Western Ports Transportation was fired for going to Olympia.  There, they would support the legislation that would force the owners of the drayage companies to be responsible for paying fines from the state DOT for safety issues related to the chassis that the drivers use.  Since then, other companies have seen their drivers walk out.

Maybe you didn’t find that special Valentine yesterday.  There is still hope of a promising relationship in the midst of the post Valentine’s Day blues… Steelhead Finance is prepared to be the perfect match when the banks aren’t smitten for your business like they used to.  It’s time to settle down with a financial partnership that you can really connect with.  Long-lasting relationships are what we specialize in.  We don’t even expect jewelry.

If my customer’s are slow paying me, how can I pay MY bills on time?

This question is being asked by more and more business owners, according to Experian’s Business Benchmark Report,  as our nation continues to struggle through tough economic times.  Small businesses are employing one to four people seeing approximately a 15% increase in delinquency. Companies with five to nine employees suffered a 16% increase in delinquencies, showing that it’s not just the small businesses of America that are suffering. There is no one correct answer for every company with cash flow issues because there are so many facets to the problem and each company’s needs and business structures are different.

Avoiding business with slower paying customers is one way to help keep cash flow at a quicker pace. Doing so, however, requires the ability to not only credit check all customers before working with them, but to continuously monitor existing  customers to watch out for downward trends or other signs of distress.

Carefully audit paperwork and perform regular billing follow up calls. This not only helps to identify and correct paperwork problems before they delay payments, but also ensures that customers are aware that you are aware of payments due and helps pressure them to pay in a timely manner.

Many companies have systems in place to address these aspects and still find themselves invoice rich and cash poor. This is where invoice factoring may be of assistance.

By factoring your invoices, you convert your Accounts Receivables to cash that you can use to pay your bills and run your business. It is important to find the right factoring company that offers not only the ability to improve cash flow by purchasing invoices and advancing funds, but also provide free, unlimited credit checking to all its clients, as well as personal Account Managers that provide billing and billing follow up services. A Business Development Officer can help explore options on how to address your company’s unique needs and provide a cash flow solution to meet them.

It’s that time of year again! No, not the one with presents and tasty baked goods. The time of year when stress, frustration, and expletives abound; it’s tax time!

It’s also a time of year when the populace seems to agree on at least one thing and that’s that they want to get the best refund possible for your trucking company, or at least owe as little as possible. So, Steelhead Finance is here with some tips that we’ve gleaned from the experts of deductions you don’t want to forget to claim, and others that you shouldn’t.

Trucking Company Deductions:

• Cell phone charges for business use
• Postage fees for mailing your invoices and other paperwork
• Safety gear
• ComData,ComCheck,TransCheck, or TCheck fees
• Association dues such as TIA, OOIDA, Teamsters, etc
• Cleaning supplies such as ZorbX, Purple Metal Polish, RainX, and even paper towels
• Credit card Fees as related to the business
• Interest on any business loans
• Access fees to the Internet or Satellite radio
• Office supplies all the way from computers, printers, and faxes to pencils, pens, and rubber bands

So now that we’re clear on some of the things we want to calculate and claim, tax professionals tell us that claiming too much can lead to an audit. Here are some things that are off limits.

Trucking Company Non-Deductible Expenditures

• Personal vacations
• Personal loans
• Home phone lines
• Commuting costs
• Clothing that could be considered “everyday wear”

Taxes are tricky, but with some research, some professional help, and maybe even a little luck, you’ll find yourself in a good spot as April 18^th dawns.